Congresswoman Lee Helps Deliver $15M in Investments for Affordable Housing in Nevada
WASHINGTON, D.C. – Today, Congresswoman Susie Lee (NV-03) announced that the Federal Home Loan Bank (FHLBank) of San Francisco will invest $15 million into the Nevada Housing Division’s (NHD) single-family bond program. This investment will support the Housing Finance Agency’s down payment assistance program that helps Nevadans afford homes.
“I’ve heard families across Nevada loud and clear: housing costs are too high,” said Congresswoman Lee. “To tackle this crisis, I’ve worked with FHLBank of San Francisco to secure new investments to provide much-needed down payment assistance to help working families in Nevada buy homes. I’m also working with Democrats and Republicans on legislation to cut governmental red tape that drives up housing costs and crack down on price gouging by corporate investors.”
Earlier this year, the FHLBank made a first-of-its kind $10 million investment in the NHD’s single-family bond program. With today’s added $15 million investment, Congresswoman Lee has now helped secure $25 million in investments for the NHD’s single-family program from the FHLBank this year.
Congresswoman Lee has previously partnered with the FHLBank San Francisco for a community forum about housing needs and the necessary steps to bring more affordable housing solutions to Nevada. She has continuously advocated for FHLBank of San Francisco to invest in Nevada to tackle the state’s housing crisis.
She also led the bipartisan and now-law Accelerating Appraisals and Conservation Efforts (AACE) Act to speed up appraisals and approvals for Nevada housing projects and cut governmental red tape that drives up housing costs. Congresswoman Lee is also a cosponsor of the Housing Oversight and Mitigating Exploitation (HOME) Act to help lower housing costs for Nevadans by cracking down on price gouging by corporate investors who are buying up housing stock and driving up home prices.
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